The current discussion regarding the decision by Dentons not to report its average profits per partner (“PPP”) to the American Lawyer is interesting. While I was at Greenberg Traurig, then-CEO Cesar Alvarez used to have a pithy statement on the whole PPP issue, along the lines of: The only thing partners really care about is “profits per me.” There is a lot of wisdom in that statement. In my experience it is true for existing Biglaw partners, potential laterals, and those (fool?) hardy associates aspiring to partnership.
At the same time, the popularity of the American Lawyer’s various charts and rankings can’t be denied. And PPP is one of the catchier columns on those charts. It is used as a proxy for determining everything from firm prestige, to strength of client relationships, to how well a firm is managed.
Savvy associates can and do use it to determine associate quality of life at a particular firm. Your firm has a blazing PPP and no big contingency windfalls feeding the flames? Good chance you are looking at a never-ending flow of “interesting work,” coupled with the partnership prospects of a diminutive drone buzzing around hoping to get noticed by the queen bee. In contrast, you might enjoy a better lifestyle if employed as associate #614 by a Biglaw 2.0 monolith, but you also run the distinct risk of making partner only to realize that the financial gulf between you and the “real” partners is a broad one….
Not surprisingly, most small business owners rarely take vacation. According to a 2013 Sage Reinvention of Business Study, 43 percent of small business owners take less vacation time than they did five years ago. And from what I’ve observed among my fellow solos, vacations are even fewer and farther between. In fact, it’s not uncommon to find many solo and small firm attorneys who haven’t taken more than an extended three-day weekend as vacation in five years or more.
Solos’ reluctance to take vacation isn’t surprising. Some feel that they may miss out on a major client if they’re away from the office more than a couple of days, while others are so overwhelmed with work that they feel that they can’t make the time. Of course, cost is a factor as well, and it’s a veritable triple whammy what with the cost of the trip itself, lost revenues with fewer billable hours and the cost of bringing in an assistant or backup lawyer to cover cases.
Still, there are also costs to skipping vacation for years on end. Solos who never take a break experience burnout, reduced productivity and loss of time with family. Moreover, without vacation (and somewhat counter-intuitively), solos miss out on an opportunity to improve their practices….
There seems to be a general lament among the elder generation of lawyers in regards to the quality of new law school graduates. Simultaneously, there is also a cacophony of complaints from recent law school graduates about the general state of the legal profession and the dissonance between what they felt they should have received from their law school education. See all the assorted “scamblawgs.”
The older generation’s complaint seems to be that Gen Y grads are, well, complaining too much. Gen Y needs to strap on their big-boy (or girl) pants and get on with it.
Gen Y grads seem to be saying they just haven’t been given the opportunity…
Over the last few weeks, I have been researching law firms and businesses with in-house legal departments. I checked each firm to see if they hired anyone from my alma mater or a comparably ranked school. I also checked the firms’ rankings both in certain specialties and their overall profitability.
Then I tried something more difficult – finding employee turnover rates and overall employee satisfaction. This information is important to me but is pretty much impossible to get without deeper digging and contacting people. The career counselor I talked to gave me some names of people who may be able to get more detailed information. If there was one thing I learned in law school, it was to find the negative information yourself because you should never trust the numbers on a company’s sales presentations and recruiting materials.
After the jump is a small sample of the prospective firms I researched, listed in no particular order.
Every couple of months, I get a legal technology newsletter that mentions the Word vs. WordPerfect debate. It’s not so much a debate as it is a handful of lawyers arguing with everyone that WordPerfect is better than Word. I’ve had this discussion in person multiple times before as well. A few months ago, an attorney tried to convince me that WordPerfect is better because you can press ctrl+c and ctrl+v to copy and then paste text. People usually bring up that federal courts require proposed orders to be in WordPerfect format (although this is no longer true). No matter what the argument is, there is usually some name calling.
WordPerfect is like Latin. It’s dead and used only by lawyers. When I see people arguing why WordPerfect should still exist, I always picture that person as someone who still has a Gore/Lieberman bumper sticker on their car. It’s over. Decisively over. It is the betamax of word processing software. It has lost the race.
Most people have moved on from WordPerfect for the same reason that language was invented in the first place: to communicate with others. You cannot share .wpd files with people outside your office. Unless you represent Corel, your client probably has Word. Sure you can open a .wpd in Word or save a WordPerfect file as a Word document, but the formatting is so screwed up that it’s usually unusable as a pleading. And, sure you can save it as a .pdf, but then you might as well print it and scan it.
Here are the arguments that I see every time on this issue:
Since Lat tweeted this past weekend about my UpCounsel profile, I thought I would share some thoughts about my experience with the service to date. First off, compared to leaving a Biglaw partnership to open a new firm, trying out a new legal platform was easy. I first heard about UpCounsel from a former in-house client who had struck out on his own. He happens to now be back in-house, but at the time we discussed UpCounsel, he was very enthusiastic about his experience using the site. Since I happen to like trying out new things, signing up once I left Biglaw was an easy decision.
Notice how I did not join UpCounsel while a Biglaw partner. Such things are simply not done. For all of Biglaw’s talk about encouraging partners to be “entrepreneurial” or to “try new marketing ideas,” there is a lot of resistance to using “new ways” to reach potential new clients. Couple that inertia with a general distaste towards marketing individual lawyers at the expense of “firm branding” (aside from a select group of key current rainmakers), and platforms like UpCounsel face a Tough Mudder-level set of obstacles to overcome if they want to break into the Biglaw firm marketing rotation. But I don’t think UpCounsel and their “evolution of legal services”-oriented kin want to….
One of the great, unspoken realities of being a new lawyer that is never mentioned in law school is that you are going to screw up – badly. And then you’re going to have to explain it to your client or supervising attorney.
You’re going to miss a deadline, not file an objection, miss some case law, or not contact an attorney involved in the case on a hearing. A mistake is going to be made and it will be your fault.
You may be tempted to try and shift the blame. Come up with excuses as to why something outside of your control caused the problem. That you were swamped with work and had too much on your plate. He said, she said. But if it was a task assigned to you, it is your personal responsibility to make sure it was completed on time and specification.
As the task, and subsequent mistake, are your responsibility – you must own it….
I give credit for the inspiration of this article to a writer named Seth Godin who wrote a book called The Purple Cow (affiliate link). My law firm benefited hugely from this book.
The theory of the Purple Cow in a nutshell is that you should try to STAND OUT like a purple cow would stand out from the other mere brown cows. If you don’t STAND OUT, then you just blend in, and you are nothing at all.
Okay, so that is a good point – as if you didn’t know that already. But it is not that simple. And here is why. Our instincts and everything we learn every day – our emotions, our colleagues, and our loved ones – all lead us in the safe (and wrong) direction.
When the world economy took a gigantic dump in 2008, among the many people whose jobs were flushed down the toilet were in-house recruiters and human resources employees of mid-size and large companies. Some of them began writing op-ed pieces on the internet advising employers how they should weed out the many résumés they received during those difficult times. By far, the most controversial advice was: Don’t hire the unemployed.
In the last few years, there were numerous news reports of employers refusing to hire the unemployed on the belief that it was the employee’s fault that he was fired. After all, if the employee worked harder by producing the extra widget or billing the extra hour, then his employer would magically generate extra business and would not have to cut staff, file bankruptcy or close up shop. And the housing market would not have collapsed. This irrational, unfair and possibly racist practice got so prevalent that some states and the federal government have enacted or proposed laws prohibiting this practice.
Now that the economy is supposedly recovering, has this practice declined? As far as law firm hiring is concerned, employers just became more covert about it….
The New York Times lost 80 million home page visitors—half the traffic to the nytimes.com page—in the last two years.
Likewise, traffic to law firm website home pages is down almost 20 percent in the last year. Only 39 percent of law firm traffic now enters through the home page per a study conducted by law firm website developers Great Jakes.
Law firms list their websites in online and offline directories. The home page URL is included on emails, business cards and social media profiles. Search engine optimization tactics are used to draw traffic to the firm’s home page. Website navigation schemas are developed to get users to browse from the home page to industries, areas of the law, about the firm, the people, office locations and articles.
The problem is that people no longer browse pages on a website by going through home pages. They’re coming from Twitter, Facebook, LinkedIn, blogs, Google+ and Google searches to visit specific content within the site….
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.